Tuesday 4 August 2015
 
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Opec

Oil edges up after 5pc fall, but outlook weak

Oil prices edged up in early Asian trading on Tuesday following a 5 per cent fall in the previous session, as high global production and a weakening economic outlook, especially in Asia, prompted analysts to warn of further falls.

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Oman boosts oil output to record high in June

Oman has ramped up its oil production to a record high in June, adding to a global supply glut that has hit oil prices, as the Gulf Arab country compensates for the drop in its oil revenue. June production reached 992,700 barrels

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China slowdown ‘could further erode oil prices’

As oversupply in the crude market continues, a sudden reduction in Chinese energy consumption growth may continue to apply downward pressure to crude prices, a report said. China’s weakening economic prospects and stock mark

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Algeria boosts oil output by 32,000bpd

Opec member Algeria has increased crude oil output by 32,000 barrels per day after starting production at two fields, an energy ministry official said on Sunday. Production increased on Saturday when the Bir Sebaa field started pr

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Oil prices fall on Opec’s ‘no production cut’ comment

Oil prices fell in Asian trade on Friday as concern over global oversupply intensified after the head of oil producers' cartel Opec indicated there would be no cut-back in production, although a fall in the US dollar put a floor under prices

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Oil price will stabilise next year: Opec

Opec expects oil prices to stabilise next year and to remain so over the long term, Secretary General Abdullah al-Badri was quoted as saying by RIA news agency on Thursday. "Prices will stabilise in 2016, we expect stability

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Oil climbs as big US stocks lift demand outlook

Oil prices extended gains in Asian trade on Thursday, after a larger than expected draw in US crude and gasoline stocks strengthened the outlook for oil demand. But gains were capped by a stronger dollar and despite the drop in oi

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Oil climbs as big US stocks lift demand outlook

Oil prices extended gains in Asian trade on Thursday, after a larger than expected draw in US crude and gasoline stocks strengthened the outlook for oil demand. But gains were capped by a stronger dollar and despite the drop in oi

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Oil falls on glut fears, weaker dollar support

Oil prices fell in Asian trade on Wednesday as concerns over global oversupply outweighed the impact of a likely larger than expected draw in US crude stocks and a weakening dollar. Asian investors focused on OPEC production figur

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Opec sees oil drop as short-term

A drop in oil prices this month is likely to be short-term and will not deflect Opec from its policy of keeping output high to defend market share, delegates from Gulf Opec members and other nations said. Falling Chinese stock mar

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